Strength to strength

Source :CHINA DAILY

  Firm increase

  The number of registered companies in Qianhai has increased by nearly 58 times, from 253 in January 2013 to 14,597 in October this year.

  Financial might

  Qianhai has more than 8,500 financial enterprises, of which 17 are banks, 48 are security companies and 2,559 are equity investment firms, along with 333 commercial factoring and 184 finance leasing companies. A financial circle covering diversified economic formalities has been basically formed.

  Top enterprises

  Qianhai has been vigorously attracting leading companies in the industry and large international projects. The cooperation zone boasts about 49 of the world's top 500 enterprises, with firms registered here including HSBC, Tokio Marine & Nichido, Swiss Bank Corp and Lenovo Group.

  Trading platforms

  Thirty trading platforms of key trading products are offered in Qianhai and 14 of them have officially opened to the market. These platforms cover a wild range of industries, including petroleum, chemical products, agricultural products, cultural property, financial assets, rare and noble metals, electronic goods, jewelry, wine and shipping.

  Renminbi loans

  So far, the accumulated total for Qianhai cross-border renminbi loans has hit almost 60 billion, 8 billion of which involves actual drawing. It includes the successful drawing of Qianhai's first cross-border renminbi loan - 1 billion yuan by Shenzhen Metro.

  Rocketing renminbi deposits

  Since Hong Kong's offshore renminbi business exceeded 600 billion yuan in 2011, there was zero increase in 16 months. But after one year of the implementation of Qianhai's cross-border loan policy, the figure rocketed to more than 960 billion yuan, up by 60 percent. The total amount of offshore renminbi capital is nearly 2 trillion yuan, of which Hong Kong accounts for about 1.1 trillion, making the city the holder of the largest offshore renminbi capital pool, according to the Hong Kong Monetary Authority.

  Banks make beeline

  Seventeen banks have set up branches in Qianhai, including the five major State-owned banks and seven foreign lenders.

  Top legal base

  To provide an international legal environment for business in the cooperation zone, Qianhai established the Shenzhen International Court of Arbitration, which has about 180 foreign arbitrators from 29 nations, or 35 percent of the total arbitrators, making it the most internationalized arbitration court on the mainland.

  Internet finance companies

  Registered Internet finance companies in Qianhai number about 346, including P2P websites, and Internet payment and crowd-funding companies. Its relaxed environment, preferential policies and promising prospects have drawn Tencent, Ideal Financial, Freedai Finance Service Limited, and other industry leaders.

  Pilot projects

  Since the approval of the first batch of pilot modern service projects in May 2013, Qianhai has started a total of 16 projects with a special fund of 93.7 million yuan, stimulating social investment of 868 million yuan. These 16 projects generated revenue of 3.32 billion yuan and a net profit of 460 million last year.

  Tax breaks

  Qianhai is the first special zone to implement tax subsidies for high-end overseas talents. Hong Kong residents account for 74 percent of the first batch of recognized talents and their tax subsidies total nearly 4.5 million yuan.

  Centers of excellence

  By 2020, Qianhai aims to establish 10 Hong Kong enterprises gathering centers for the SAR's advantageous industries and incubate more than 100 Hong Kong-related innovative start-ups. The scale of the Hong Kong service industry is expected to exceed 100 billion yuan by then.

  Dozens of new policies

  The central bank, the China Insurance Regulatory Commission, the China Banking Regulatory Commission and the China Securities Regulatory Commission approved about 28 new financial innovative policies for Qianhai in August.

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2014-12-08 14:24:00